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Dundee Precious Metals Achieves Robust Q3 Gold Production; Sets Date for Q3 Financial Results

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Dundee Precious Metals Reports Strong Q3 Gold Production and Announces Q3 Financial Results

Dundee Precious Metals Inc. has released its preliminary production results for the three and nine months ending September 30, 2023. The company achieved a new record for quarterly gold production at the Ada Tepe mine and solid production in-line with expectations at the Chelopech mine. David Rae, President and CEO of Dundee Precious Metals, expressed confidence in achieving the company's 2023 guidance targets for gold and copper production. The company also provided highlights of its production results, including ore processed, metals contained in concentrate produced, payable metals in concentrate sold, and complex concentrate smelted.

Operational Highlights and Production Results

Chelopech produced approximately 40.3 K oz. of gold and 7.2 Mlbs. of copper during the third quarter, meeting expectations and remaining on track to achieve its 2023 production guidance. Ada Tepe achieved a record 33.8 K oz. of gold production, reflecting higher grades per the mine plan and aligning with the 2023 production guidance. The Tsumeb smelter processed 21.8 Kt of complex concentrate, with operations resuming and ramping up to full production after a planned maintenance shutdown.

Returning Capital to Shareholders and Financial Results

Dundee Precious Metals continues to prioritize returning capital to shareholders through a sustainable quarterly dividend and share repurchases under its Normal Course Issue Bid (NCIB) program. In the third quarter, the company repurchased approximately 3,634,000 common shares, totaling approximately US$23.7 million. Additionally, the company will pay a quarterly dividend of US$0.04 per share on October 16, 2023. The company plans to release its Q3 2023 operating and financial results on November 7, 2023, followed by a conference call and webcast on November 8, 2023. In conclusion, Dundee Precious Metals' strong Q3 gold production and upcoming financial results demonstrate the company's commitment to operational excellence and delivering value to shareholders. The achievement of production targets and the ongoing capital return strategy position the company for continued growth and success in the mining industry.

The Impact of Dundee Precious Metals' Q3 Report on New Businesses

Dundee Precious Metals Inc.'s Q3 2023 production results offer valuable insights for new businesses, particularly those in the mining industry. The company's record gold production at the Ada Tepe mine and solid production at the Chelopech mine highlight the importance of operational excellence and the potential for high returns in the mining sector.

Lessons from Operational Success

The company's operational success, as evidenced by the achievement of production targets, provides a clear example of the benefits of strategic planning and efficient execution. For new businesses, this serves as a reminder of the importance of setting clear, achievable targets and implementing effective strategies to meet them.
Financial Strategy and Shareholder Value
Dundee Precious Metals' commitment to returning capital to shareholders through dividends and share repurchases underlines the importance of a robust financial strategy in enhancing shareholder value. This approach could serve as a blueprint for new businesses seeking to attract and retain investors. In conclusion, Dundee Precious Metals' Q3 2023 report offers valuable lessons for new businesses in operational efficiency, strategic planning, and financial management. These insights could be instrumental in guiding the growth strategies of new businesses in the mining sector and beyond.
Story First Published at: https://financialpost.com/globe-newswire/dundee-precious-metals-delivers-strong-third-quarter-gold-production-announces-timing-of-third-quarter-financial-results
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